Unlocking Huge Potential of Mineral Exploration

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08 September 2021 Current Affairs:The Geological Survey of India has designated 100 mineral blocks with geological potential for auction. Handing over of these a hundred Reports to the State Governments will ensure non-stop grant of minerals in the country and extra revenue to the State Governments by bringing greater quantities of mineral blocks under auction.

About MMDR Amendment Act, 2021:
♦ The 2015 MMDR Amendment Act introduced transparency in the allocation of mineral concessions in mining leases and exploration licenses. 
♦ In this non-stop endeavour, the Mines and Minerals (Development and Regulation) Amendment Act, has been further liberalized in March 2021.
♦ The latest amendment is anticipated to expand employment and funding in the mining sector, enlarge the income to the States, increase production and time bound operationalization of mines,maintain the continuity of mining operations after the tenant changes, and accelerate the pace of mineral exploration and auction resources.
 
 

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